Punjab National Bank Home Loan

Punjab National Bank Home Loan Key Features

Feature	Value
Interest Rate	6.75% onwards
EMI / Lakh	Rs. 662
Loan Tenure	Up to 30 years
Loan Amount	Percentage based on property value
Loan to Value Ratio	Up to 90% of property value
Loan Available on the Following Types of Property	New flat Ready to Move-in House  Plot From MHADA, DDA, etc. Home construction Home extension Home renovation
Special Offer for Women	Interest rate concession of 0.05%
Processing Fee	Up to 0.5% of loan amount excluding GST
Prepayment Charges	No prepayment charges for floating rates
Part Payment Charges	Nil
Guarantor Required	Nil

Please Note: The above figures are only indicative and are subject to change without any prior notice.

---

Punjab National Bank Home Loan Interest Rates & Offers May 2021

Punjab National Bank Home Loan Schemes	Interest Rate For Women	Interest Rate for Others
Punjab National Bank Home Loan	6.75%	7.00% – 8.00%
Punjab National Bank Reach Loan	8.75% – 14.00%	8.75% – 14.00%
Plot Loan	7.05% – 8.05%	7.10% – 8.10%
Rural Housing Loan	6.75% – 8.70%	7.00% – 8.70%
Home Improvement Loan	6.75% – 7.95%	7.00% – 8.00%
Home Extension Loan	6.75% – 7.95%	7.00% – 8.00%
Home Loan Top Up	As per home loan slabs	As per home loan slabs
Home Loan Balance Transfer	6.75% onwards	6.75% onwards

Please Note: The above rates and values are floating in nature and are based on adjustable rates. These are subject to change at the time of loan disbursement.

Know more about Home Loan Interest Rates.

Punjab National Bank Home Loan Eligibility Criteria 

Salaried Individual:

1. The applicant’s nationality should be Indian.
2. The applicant must be between the age group of (Minimum) 18 years to (Maximum) 65 years.
3. Must have working experience and a legitimate source of salary i.e working under the same employer for at least one year.

Self Employed Individual:

Applicants who are not professionally engaged in the working sector but have their own source of steady income are also eligible for the Punjab National Bank Home Loan. This includes everybody who is a:

• Traders
• Commission agent
• Contractors

The following criteria must be met to apply for a home loan:

1. The applicant’s nationality should be Indian.
2. The applicant must be between the age group of (Minimum) 18 years to (Maximum) 65 years.

Self Employed Professionals:

Applicants who are professionally engaged in the working sector are also eligible for the Punjab National Bank Home Loan. This includes everybody who is a:

• Doctors
• Lawyers
• Charted Accountant
• Architect
• Consultant
• Engineer
• Company Secretary

The following criteria must be met to apply for a home loan:

1. The applicant’s nationality should be Indian.
2. The applicant must be between the age group of (Minimum) 18 years to (Maximum) 65 years.

Additional Criteria for Co-applicants:

• Co-applicant must be a family member of the primary applicant.
• All co-applicants are not required to be the co-owners of the property.

Please find more information on Eligibility by visiting Dialabank.

Know more about Home Loan eligibility criteria.

Common Documents for Salaried and Self-Employed

Salaried Individual:

Valid ID and Residence Proof: A copy of Proof of Identity and Residence such as Aadhaar, PAN, Driving License, Passport, Voter ID, etc.

Income Proof:

• Bank Statements showing salary credits from the last 6 months.
• Latest Salary Slips from the last 3 months.
• Latest Form-16 and IT returns
• Employment Contract/Appointment Letter if the current employment is less than a year old.

Property Related Documents:

• A cheque for processing fee favouring ‘Punjab National Bank.’
• Copy of the Buyer Agreement/Allotment Letter
• Receipt/(s) of payment/(s) made to the developer

Self Employed Individual:

Valid ID and Residence Proof: A copy of Proof of Identity and Residence such as Aadhaar, PAN, Driving License, Passport, Voter ID, etc.

Income Proof:

• Bank Statements showing salary credits from the last 6 months.
• Business Profile and Previous 3 years Income Tax returns (Both self and business)
• Previous 3 years Profit/Loss Account and Balance Sheet.

Proof Of Business: 

• Educational Qualifications Certificates
• Business achievements (Certificate or awards if any)

Property Related Documents:

• A cheque for processing fee favouring ‘Punjab National Bank.’
• Copy of the Buyer Agreement or Allotment Letter 
• Receipt/(s) of payment/(s) made to the developer

Agriculturists:

KYC Proof – PAN Card (Mandatory) and any Driving License/Voter ID/Passport

Income Proof:

• Bank Statements showing salary credits from the last 6 months.
• Copies of title documents of agricultural Land showing crops being cultivated

Property Related Documents:

• A cheque for processing fee favouring ‘Punjab National Bank.’
• Copy of the Allotment Letter / Buyer Agreement
• Receipt/(s) of payment/(s) made to the developer

Additional requirements for Co-applicants:

Passport size photograph of all co-applicants to be affixed on the Application Form and signed across

Know more about the Home Loan documents required.

Punjab National Bank Home Loan Procedure

Procuring a home loan from Punjab National Bank is comparatively easy thanks to an online application process. A Punjab National Bank home loan can be secured in five simple steps:

• On the Punjab National Bank website, branch, or website of an authorised online channel affiliate, fill out the application form with the loan amount, property details, your personal details, occupation information, and your contact number.
• An associate from Pnb or an online associate will contact you to discuss your loan eligibility, as well as the loan interest rates, terms, transaction fees, and a few other costs.
• Once you choose to proceed with the home loan application,  you must send your income and property statements online, otherwise, a Punjab National Bank representative may come to your home or office to collect them.
• Punjab National Bank will seek transaction fees, and a credit appraisal and technical analysis of the house will take a few days.
• If you are eligible and your property qualifies for a loan, you will receive a sanction letter from Punjab National Bank and will be asked to sign a loan agreement with the bank. After that, the loan will be disbursed to your account.

Different Home Loan Schemes By Punjab National Bank

Punjab National Bank Home Loan – For Resident Indians

This type of loan is specifically for those individuals who are Indian residents and require funds to purchase a house or a plot for further construction.

Specific Information for Home Loan Scheme
Eligible Profiles	Available to Salaried and Sef-employed Individuals
Loan Amount	Up to 90% of the value of Property
Interest Rate	6.75% onwards
Processing Fee	Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST
Loan Tenure	30 years

Punjab National Bank Home Loan for NRI/PIO – For NRIs and PIOs

This type of loan is available to those who are NRIs, PIO, and OCI. The loan helps the individual who is willing to:

• Purchase a flat, row house, bungalow in India from private developers in approved projects.
• Properties can be purchased from Development Authorities such as DDA, MHADA, etc.
• Construct on a plot allotted by a Development Authority in India or a freehold/leasehold plot.
• Properties can be purchased in an existing Co-operative Housing Society, Apartment Owners Association, Development Authorities settlements, or privately built-up homes.

Punjab National Bank Plot Loans – For Buying a New Plot

This type of loan is specifically established for those individuals who are looking to purchase a new plot. This loan supports buying a new direct allotment plot or a plot from the resale.

Specific Information for Plot Loan Scheme
Eligible Profiles	Available to Salaried and Sef-employed Individuals
Loan Amount	Up to 80% of the value of Property
Interest Rate	6.75% onwards (0.05% concession to women)
Processing Fee	Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST
Loan Tenure	15 years

Punjab National Bank Top Up Loans – For Punjab National Bank Home Loan Borrowers

This scheme helps the borrowers to get additional funding over their already opted home loan. The funds from this scheme can be used for various personal and business purposes.

Specific Information for Top-Up Loan Scheme
Eligible Profiles	Available to Salaried and Sef-employed Individuals
Loan Amount	Up to 90% of the value of Property
Interest Rate	New Customer – 6.75% onwards Existing Customer – As per Home Loan Slabs
Processing Fee	Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST
Loan Tenure	15 years

Punjab National Bank Home Extension Loans – For Adding Space in Your Home

This type of loan is specifically for those individuals who want to extend or add space to their home property.

Specific Information for Home Extension Loan Scheme
Eligible Profiles	Available to Salaried and Sef-employed Individuals
Loan Amount	Up to 90% of the value of Property
Interest Rate	6.75% onwards
Processing Fee	Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST
Loan Tenure	20 years

Punjab National Bank Home Loan Balance Transfer – For All Home Loan Borrowers

Punjab National Bank Home Loan Balance Transfer is available to those customers who are willing to lower their repayments.

Specific Information for Home Loan Balance Transfer Scheme
Eligible Profiles	Available to Salaried and Sef-employed Individuals
Loan Amount	Up to Rs. 50 Lakhs
Interest Rate	6.75% onwards
Processing Fee	Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST
Loan Tenure	30 years

Punjab National Bank Home Loans under Pradhan Mantri Awas Yojana

This type of loan is specially established for EWS/LIG, families under MIG-I, and MIG -II categories. The validity of this scheme is up to 31 march 2022 (EWS/LIG), 31 march 2021 (Families under MIG-I and MIG -II categories).

Specific Information for Home Loan Pradhan Mantri Awas Yojana Scheme
Eligible Profiles	Available to EWS/LIG, MIG-I, and MIG -II
Loan Amount	No Cap
Interest Subsidy	3.00% onwards
Maximum Subsidy	Up to Rs. 2.67 Lakhs
Loan Tenure	20 years

Punjab National Bank Reach Loans – For Indians With Income Of At least Rs. 10,000 Per Month

This type of loan is specifically for those individuals who are Indian residents with an income of Rs. 2 Lakhs per annum. This loan can cover the costs of purchasing a new or already built house, a new plot for further construction, renovations, and extension or construction on both residential and non-residential properties.

Specific Information for Reach Loan Scheme
Eligible Profiles	Available to Salaried and Sef-employed Individuals
Loan Amount	Up to 80% of the value of Property
Interest Rate	6.75% onwards
Processing Fee	Up to 2% of the loan amount + GST
Loan Tenure	30 years

Punjab National Bank Rural Housing Loans – For Indians Living in Rural Areas

This type of loan is specifically for those individuals who are agriculturists, planters, horticulturists, dairy farmers, and others who are living in remote areas and are willing to buy an under-construction property or a new residential property or an existing residential property in rural and urban areas. This loan is also eligible for individuals who are salaried or self-employed!

Specific Information for Rural Housing Loan Scheme
Eligible Profiles	Available to Salaried, Sef-employed Individuals and Agriculturists
Loan Amount	Up to 90% of the value of Property
Interest Rate	6.75% onwards (0.05% concession to women)
Processing Fee	Salaried/Self-employed – Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST Agriculturists/ Self-Employed Non-Professionals – Up to 1.50% of the loan amount or Rs. 4,500 (whichever is higher) + GST
Loan Tenure	30 years

Punjab National Bank Home Improvement Loans – For Covering Home Renovation Costs

This type of loan is specifically for those individuals who want to renovate their homes but are not able to do so due to a lack of funds.

Specific Information for Home Improvement Loan Scheme
Eligible Profiles	Available to Salaried and Sef-employed Individuals
Loan Amount	New Customer – Up to 90% of the estimates from improvements. Existing Customer – Up to 100% of the estimates from improvements.
Interest Rate	6.75% onwards
Processing Fee	Up to 0.50% of the loan amount or Rs. 3,000 (whichever is higher) + GST
Loan Tenure	15 years

Punjab National Bank Pradhan Mantri Awas Yojana Subsidy 2021

The Government of India’s Pradhan Mantri Awas Yojana is a home loan subsidy programme designed to encourage everybody to own a home. The scheme provides financial assistance to lower-income classes in society who receive less than 18 lakh rupees per annum by providing them with home loans with subsidised interest rates.

EWS (economically weaker section), LIG (lower-income group), MIG-1 (middle-income group-1) and MIG-2 (middle-income group-2) are the four income groups. On Punjab National Bank home loans, a gross subsidy of approximately 2.67 lakh can be obtained via PMAY. The Punjab National Bank PMAY Home loan has a 15-year maturity period. Applicants for a home loan from Punjab National Bank that is qualifying for the PMAY subsidy will do so. Eligibility for the PMAY in Punjab National Bank Home Loan:

• Households earning between 6,00,001 and 12 lakhs a year are classified as Middle Income Group I.
• Households in the Middle Income Group-II have an annual income of between 12,00,001 and 18 lakh rupees.
• A family is described as a husband and wife, as well as their unmarried children.
• An adult earning member (regardless of marital status) may be considered as a different household and be eligible for subsidy on their own.
• In the case of a married couple, one of the spouses, or both of them together in shared possession, would be liable for a single home, based on the household’s income eligibility under the programme.
• The beneficiary family does not own a pucca house in any part of the country in his or her own name or in the name of any member of his or her family.

Advantages of Punjab National Bank Home Loan

Punjab National Bank Home Loan is a saviour to those who are in need of financial support relating to homes and plots. It offers the following:

• A huge variety of home loan schemes.
• The most helpful Pradhan Mantri Awas Yojana is also available.
• Provide a 0.05% concession to women to encourage them for their own homeownership.
• Provide several repayment methods to choose from and opt for the one best suited to you.
• Full transparency as the Punjab National Bank promises no hidden costs and fees.
• Easy application with minimum documentation and paperwork.
• Provides loan approval prior to the selection of the property.

Compare Punjab National Bank Home Loan with Other Banks

Particulars	PNB	SBI	HDFC
Interest Rate	7.35% – 8.80%	6.70% – 7.05%	6.75% – 8.20%
Processing Fees	Up to 0.35% Min ₹ 2,500 Max ₹ 15,000	Min ₹ 10,000	Min ₹ 3,000
Loan Tenure	30 Years	30 Years	30 Years
Maximum Loan Amount	₹ 1 Cr	₹ 7 Cr	₹ 5 Cr
Age	21 – 65 Years	18 – 70 Years	24 – 65 Years
Benchmark Rate	RLLR	RLLR	PLR
Lowest EMI Per Lakh	₹ 689 per lakh	₹ 645 per lakh	₹ 649 per lakh

Punjab National Bank Home Loan Charges and Fees

Particulars	Charges
Processing Fees	Salaried Individuals: 0.50% of the loan amount or Rs. 3,000, whichever is higher Self Employed Professionals: 0.50% of the loan amount or Rs. 3,000, whichever is higher Self Employed Non-Professionals: Up to 1.50% of the loan amount or Rs. 4,500, whichever is higher
Prepayment charges	No prepayment charges for floating rates
Check dishonor charges	Up to Rs. 200
List of documents	Up to Rs. 500
Photocopy Of documents	Up to Rs. 500
PDC Swap	Up to Rs. 200
Disbursement cheque cancellation charges post disbursement	Up to Rs. 200
Increase/Decrease in the loan term	Up to Rs. 500
Re-appraisal of loan post 6 months from sanction	Up to Rs. 2,000

Please Note: The above figures are only indicative and are subject to change without any prior notice.

How to apply for the Punjab National Bank Home Loan

• Visit Dialabank for a Home Loan.
• Go to the Punjab National Bank Home Loan page.
• Check out all the eligibility and documents criteria for a Home Loan.
• Fill out all the details required in the Punjab National Bank Home Loan application form.
• Once done, our representative will soon contact you for a further stress-free process.

Punjab National Bank Home Loan Customer Care

Punjab National Bank is famous for its customer relations management, as a result, they provide special home loan customer care service and a special contact number to ensure convenience for the customer:

1800-120-8800

Customers do not need to look up all these customer care numbers every time, they can just get one contact number for all their financial needs with India’s First Financial Helpline and just contact us for assistance in any matter.

Dialabank: 9878981166

Punjab National Bank Home Loan EMI Calculator

Know more about Home Loan EMI Calculator.

Other Loan Products from Punjab National Bank

Punjab National Bank Personal Loan	Punjab National Bank Gold loan	Punjab National Bank Car Loan
Punjab National Bank Education Loan	Punjab National Bank Two Wheeler Loan

Punjab National Bank Home Loan FAQ

✅ How to repay my Punjab National Bank home loan?

There are different payment methods through which you can repay your Punjab National Bank home loan, this can be done:

• By issuing Standing Instructions to pay the loan instalments through Electronic Clearing System.
• By opting for direct deduction of monthly instalments by your employer.
• By issuing post-dated cheques from your salary account.

✅ When can you apply for the Punjab National Bank’s top-up loan?

A year after the disbursement of the existing loan amount and the possession or completion of the financed property.

✅ In the case of prepayment is made, is there any change in home loan EMI?

Punjab National Bank accepts a prepayment at nil charges in case of floating rate home loans. When a prepayment is made, the outstanding balance of the principal amount on your home loan gets reduced.

✅ What is the maximum loan amount from the home loan can I get on my salary?

A customer can get the loan amount on his/her salary, depends on their repayment capacity. To determine the repayment capacity the following variables are considered: age, the number of dependants, credit history, education qualification, current liabilities, etc.

✅ What is a Floating Interest Rate?

Floating interest rates are different from the fixed rates, the rates are not the same throughout the loan tenure. It may vary with the change in the lender’s benchmark rate.

✅ How Dialabank can help you get a Home Loan?

Dialabank is a bridge to find the best option between several Banks and NBFCs by providing you with a detailed and structured market comparison of different banks. This eliminates the unnecessary worries about the complex information and process you have to go through if you choose to search and applying by own.

✅ How the rate of interest will change if the interest rate is linked to PLR?

Home Loan Interest Rate is linked to PLR, and any change in PLR will lead to a change in rates of interest on the home loan. Interest rates on home loan account will rise or fall with the increase or decrease of PLR, proportionately.

✅ Who is a Co-obligate or Guarantor?

Co-obligate or guarantor is an individual who undertakes to re-pay the bank loan in case the principal borrower fails. The amount of his liability will be the same as that of the principal borrower and the Bank can take strict actions against him for recovery along with the principal borrower. Guarantor can’t say that his liability will start only after the remedies against the principal borrower are exhausted.

✅ Is there an option for pre-closure of a loan account?

A pre-closure option is also available and charges will be levied at rates as decided by the lender.

✅ Does missing an instalment effects CIBIL?

Non-payment of EMIs as per terms and conditions will adversely affect the credit rating of the borrower.

✅ Are there any penalty Charges?

Penalty charges of 2% will be levied on the instalment amount unpaid.

✅ How is the calculation of interest rates is done?

Interest rates are charged on a daily balance method and are debited once in a month in your loan account. A 2% penalty on the unpaid Installment amount will be charged.

News for Punjab National Bank Home Loan

2021-02-08: 

PNB announced a net profit of 506 crores on February 2, 2021. For the quarter ended December, PNB’s net profit fell by 18.5 per cent year on year to Rs 506 crore. In addition, the bank posted Rs 8,313 crore in net interest income from retail loans such as a house, family, motorcycle, two-wheeler, and gold loans, as well as company and mudra loans.

2020-12-29:

PNB completes the IT merger of all divisions of two combined companies on December 29, 2020. Customers of the former OBC Bank have been moved to PNB’s CBS, where they can transact easily across existing branches and digital banking platforms such as internet banking and mobile banking. The merger of PNB, United Bank of India, and OBC took place on April 1st of this year. In terms of company and total branches, the merger formed the second-largest nationalised bank.

2020-12-02:

PNB launched a loan processing solution to speed up execution on December 2, 2020. Punjab National Bank has released LenS-The Lending Solution, a tech-based loan management solution. Its aim is to improve the pace and quality of online loan processing and credit proposal approval. It will be phased in for all types of loans, including MSME, agriculture, retail, and other types of credit.

2020-11-03:

PNB announced an 18% drop in Q2 net profit on November 3, 2020. PNB’s net profit increased by 22% to Rs 621 crore in the second year, compared to Rs 507 crore the year before. For the quarter ended September, the bank’s net interest income increased to Rs 8,393 crore, and its net interest margin grew to 3.21 per cent. PNB’s total revenue, which includes retail loans such as a house, personal, gold, two-wheeler, and car loans, as well as mudra and business loans, was Rs 23,439.

2020-08-25:

PNB will deliver a one-time loan restructuring option on August 25, 2020. Punjab National Bank plans to provide corporate and retail loans such as a house, personal, gold, two-wheeler, and auto, as well as company and mudra loans, a one-time loan restructuring window. Customers whose income has declined as a result of the COVID-19 pandemic and resulting lockdown will be helped.